Rhumbline Advisers Reduces Holdings in Fox Factory Holding Corp. (NASDAQ:FOXF)

Rhumbline Advisers decreased its position in shares of Fox Factory Holding Corp. (NASDAQ:FOXF) by 3.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 130,325 shares of the company’s stock after selling 4,152 shares during the period. Rhumbline Advisers owned 0.31% of Fox Factory worth $6,280,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Fox Factory in the fourth quarter worth $31,429,000. Norden Group LLC raised its position in shares of Fox Factory by 3,378.1% in the 1st quarter. Norden Group LLC now owns 286,420 shares of the company’s stock valued at $14,914,000 after purchasing an additional 278,185 shares in the last quarter. Vanguard Group Inc. grew its stake in Fox Factory by 5.4% in the first quarter. Vanguard Group Inc. now owns 4,470,762 shares of the company’s stock worth $232,793,000 after purchasing an additional 228,339 shares in the last quarter. RWWM Inc. acquired a new position in Fox Factory in the fourth quarter worth $7,969,000. Finally, Jane Street Group LLC raised its stake in Fox Factory by 173.7% during the first quarter. Jane Street Group LLC now owns 181,873 shares of the company’s stock worth $9,470,000 after acquiring an additional 115,432 shares during the period.

Analyst Ratings Changes

FOXF has been the subject of a number of analyst reports. Bank of America reduced their price target on Fox Factory from $53.00 to $43.00 and set a “neutral” rating for the company in a research report on Thursday. Robert W. Baird cut their price objective on Fox Factory from $48.00 to $45.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. B. Riley lowered their price target on Fox Factory from $50.00 to $45.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Finally, Truist Financial dropped their target price on Fox Factory from $55.00 to $54.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $46.17.

Fox Factory Trading Up 6.7 %

Fox Factory stock opened at $39.39 on Friday. The company’s fifty day moving average price is $43.30 and its two-hundred day moving average price is $45.42. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.13 and a quick ratio of 1.63. Fox Factory Holding Corp. has a one year low of $34.56 and a one year high of $105.38. The company has a market capitalization of $1.64 billion, a price-to-earnings ratio of 22.01, a PEG ratio of 2.48 and a beta of 1.63.

Fox Factory (NASDAQ:FOXF) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.03. The company had revenue of $348.49 million during the quarter, compared to analysts’ expectations of $346.22 million. Fox Factory had a net margin of 3.07% and a return on equity of 7.66%. The business’s quarterly revenue was down 13.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.21 earnings per share. On average, analysts forecast that Fox Factory Holding Corp. will post 1.56 earnings per share for the current fiscal year.

Insider Activity at Fox Factory

In other Fox Factory news, CEO Michael C. Dennison purchased 4,800 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was purchased at an average price of $41.44 per share, for a total transaction of $198,912.00. Following the completion of the purchase, the chief executive officer now directly owns 135,066 shares in the company, valued at $5,597,135.04. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.30% of the stock is owned by corporate insiders.

Fox Factory Profile

Fox Factory Holding Corp. designs, engineers, manufactures, and markets performance-defining products and system worldwide. The company offers powered vehicle products for side-by-side vehicles, on-road vehicles with and without off-road capabilities, off-road vehicles and trucks, all-terrain vehicles, snowmobiles, and specialty vehicles and applications, such as military, motorcycles, and commercial trucks; lift kits and components with shock products and aftermarket accessory packages for trucks; and mid-end and high-end front fork and rear suspension products.